Sega of America is also relocating from its San Francisco office to Southern California, reducing "fixed expenses, mainly in corporate functions". Around 120 jobs will be lost by the end of March.

Meanwhile, Sega's European division is "under consultation with a limited number of staff" and will confirm any potential redundancies soon.

"We are under consultation with a limited number of staff in the European publishing business and will be able to confirm decisions regarding any potential redundancies in the coming weeks," read a statement to Digital Spy.